What happened?
Privacy-oriented exchange GRVT has secured $19 million in a Series A funding round, aiming to rival Hyperliquid, the current frontrunner of decentralized perpetual futures. The majority of the funds came from ZKsync which contributed $14 million, endorsing GRVT’s ambition to bring institutional-grade privacy to on-chain trading.
Who does this affect?
This development affects large traders who have been affected by the full-transparency model of Hyperliquid, where all positions and order data are visible, creating potential risks. GRVT’s privacy-focused approach along with its yield-first strategy can attract both active traders and passive investors while assuring safety from manipulation that comes with high visibility in the marketplace.
Why does this matter?
This matters because if successful, GRVT could potentially disrupt the market currently dominated by Hyperliquid. GRVT’s strategy of using ZK cryptography to protect trade data could become an industry standard, affecting future trends in on-chain activity and setting new standards for privacy and security in the realm of decentralised exchanges.